Ex-Nat'l Lampoon CEO to be sentenced in fraud case

INDIANAPOLIS (AP) - A former chief executive of National Lampoon and two co-conspirators face possible life sentences Friday after being convicted of swindling investors out of about $200 million.

U.S. District Judge Jane Magnus-Stinson is set to sentence Timothy Durham, James Cochran and Rick Snow following their June convictions on fraud and conspiracy charges.

A jury found each man guilty of securities fraud and conspiracy. It also convicted Durham, a major Indiana Republican Party donor who resigned his National Lampoon post in January, of 10 counts of wire fraud, while Cochran and Snow were convicted on some of those counts.

Prosecutors have said the three stripped Akron, Ohio-based Fair Finance of its assets and used the money to buy mansions, classic cars and other luxury items and to keep another Durham company afloat. The men were convicted of operating an elaborate Ponzi scheme to hide the company's depleted condition from regulators and investors, many of whom were elderly.

This undated file photo released by the U.S. Marshal's office shows accountant Rick D. Snow. U.S. District Judge Jane Magnus-Stinson is set to sentence Snow, Tim Durham, and James Cochran following their June convictions on fraud and conspiracy charges on Friday, Nov. 30, 2012. The three were convicted of swindling investors out of about $200 million. (AP Photo/ U.S. Marshal's Office)

9. I hear ya.

Nothing says not funny like the Organization Man. I believe I met the old owner and publisher, Matty and his daughter, way back in March 1976 when I was young and certain. Fine people, they, who listened to my pitch for using humor as the "ripple" to get the ocean in sync for the sake of goodness. Caused a bit of a stir on Madison Avenue, I understand. They ended up cashing in at the top of the publishing boom. Me, I returned to Michigan, broke, but determined to be the best Puerto Rican cross-country skiing science fiction cartoonist ever to walk the backstreets of Motown.

14. Ex-National Lampoon CEO sentenced to 50 years in jail

3:25PM EST November 30. 2012 - INDIANAPOLIS (AP) — A financier and former chief executive of humor magazine National Lampoon convicted of swindling investors out of about $200 million was sentenced Friday to 50 years in prison.

U.S. District Judge Jane Magnus-Stinson said the case against Timothy Durham was characterized by "deceit, greed and arrogance" and that Durham had violated the trust of thousands of small investors from the American Heartland.

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Two of Durham's associates, James Cochran and Rick Snow, were to be sentenced later Friday.

A jury in June found the three men guilty of securities fraud and conspiracy. It also convicted Durham, a major Indiana Republican Party donor who resigned his post at National Lampoon in January, of 10 counts of wire fraud, while Cochran and Snow were convicted on some of those counts.